Indian Bank declares five NPA accounts worth Rs 148 cr as fraud

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Indian Bank declares five NPA accounts worth Rs 148 cr as fraud
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The five accounts are - Cox & Kings Ltd that diverted funds worth Rs 68.46 crore; Era Infra Engineering Rs 19.36 crore; Supreme Tex Mart Rs 16.36 crore; RSAL Steel Pvt Ltd Rs 27.35 crore and Pune Buildtech Rs 16.50 crore, Indian Bank said in a regulatory filing.

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The bank said it has fully provided for these non-performing assets.

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on Monday declared five NPA accounts, including Cox & Kings and Era Infra Engineering, having Rs 148.03 crore exposure as fraud.

The five accounts are - Cox & Kings Ltd that diverted funds worth Rs 68.46 crore; Era Infra Engineering Rs 19.36 crore; Supreme
Tex
Mart Rs 16.36 crore; RSAL Steel Pvt Ltd Rs 27.35 crore and Pune Buildtech Rs 16.50 crore, Indian Bank said in a regulatory filing.

The bank said it has fully provided for these non-performing assets.

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1 Comment on this Story

Natarajan D2 hours ago
What about the bank staffs who sanctioned the loans to these fraudulent companies, they need to be dismissed immediately
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